One Zinc Smelter in South China Cuts Output for Maintenance, SMM Reports

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

SMM Evening Comments (Jan 23)

SMM Morning Comments (Jan 19)

SMM Evening Comments (Jan 17)

Zinc prices maintained upward momentum in 2017, thanks to the fundamental story. LME zinc refreshed a 10-year high, and SHFE zinc jumped above 27,000 yuan per tonne, up over 20% so far this year.

Fankou lead-zinc mine will close for 15 days for checks on its electric wire and cable as required. What’s the impact from the closure?

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

Zinc ingot inventories at some Chinese zinc smelters are limited, they told SMM.

Chinese listed zinc companies jumped by an average of 35% from early June 2017 because of surging zinc prices, SMM said.

China’s refined zinc output was 455,000 tonnes in July, down 1.66% on the month but up 1.62% on a yearly basis, SMM data showed.